Anesthetix Accepts Investment from Summit Partners
PALM BEACH GARDENS, FL and BOSTON, MA (SEPTEMBER 6, 2006) – Anesthetix Management, LLC, the premier provider of anesthesiology and pain management services to hospitals and ambulatory surgery centers across the U.S, today announced that it has accepted a minority equity investment from Summit Partners, a private equity and venture capital firm with notable expertise and success investing in growing healthcare companies.
Physician-owned and operated Anesthetix will use the capital to enhance the level of service it provides its customers and clinical associates, and to further develop its infrastructure and depth of management support.
“We’re specialists in helping our hospital and ASC customers achieve operational efficiency,” said Tushar Ramani, MD, Anesthetix’s Chief Operating officer. “With this strategically planned investment in our own infrastructure and operations, we’re able to bring more resources to the task.”
With this investment, Anesthetix reaffirms its commitment to provide its hospital and physician partners with the best national resources possible. Capital provided through this arrangement may also help Anesthetix make strategic practice acquisitions.
According to Mark deLaar, a Principal with Summit Partners who, together with Tom Jennings, a Managing Director at Summit Partners, joins the Anesthetix Board of Directors, “As a market-leading, rapidly growing, profitable healthcare service company with an outstanding management team and a large addressable market, Anesthetix exemplifies the type of company that Summit Partners seeks for its investments.”
Anesthetix has also recently recruited two additional Board Directors: George “Mac” McCleary, CEO of Intercare Holdings, Inc., former CEO of Senior Home Care, Inc. and former CFO and Chief Legal Officer of Inphynet Medical Management, Inc.; and James Emanuel, former Director and CFO of Lincare Holdings, Inc. (NASDAQ:LNCR) and director of the SRI/ Surgical Express, Inc. (NASDAQ: STRC). “As entrepreneurs managing a rapidly growing company, we believe that having a talented board with successful healthcare management experience will help us to best deliver on our business and service missions,” added Steven M. Gottlieb, M.D, Chief Executive Officer of Anesthetix.
About Anesthetix Management, LLC
Founded in 2000, Anesthetix (www.anesthetix.com) is at the forefront of reinventing the delivery and management of anesthesia services. As a nationally recognized provider of comprehensive anesthesiology and pain management services for hospitals and surgery centers throughout the United States, Anesthetix is delivering unsurpassed quality and efficiency standards through its local, community-based physician groups.
About Summit Partners
Summit Partners is a private equity and venture capital firm that provides growth financing to exceptional companies. Founded in 1984, Summit has raised nearly $9 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 295 growing companies across a range of industries. Of these companies, nearly 125 have completed public offerings and in excess of 110 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Palo Alto, and London.
Notable healthcare services and life sciences investments by Summit Partners include AmeriPath, Clinical Pathology Laboratories, Clontech Laboratories, Fermentas, HealthCare Partners, Lincare Holdings, MDVIP, NightHawk Radiology Holdings, and Pediatrix Medical Group.